Boliden resumed with a Market Perform at BMO Capital

BMO Capital analyst Alexander Pearce resumed coverage of Boliden (BDNNY) with a Market Perform rating with a price target of SEK 300, down from SEK 310, following the completion of the the Zinkgruvan and Somincor acquisition. The firm noted that the key positive from the deal is “increased mine supply for Boliden’s smelters, helping to alleviate some of the pressure from low TCs,” but added that it believed the stock is “reasonably priced” with “limited” near-term upside.